The following selected transactions apply to topeca suppy for november and december in year 1. November was the first month of operations.

Required information [The following information opplies to the questions displayed below] The following selected transactions apply to Topeca Supply for November and December Year 1 November was the firt. month of operations. Sales tax is collected at the time of sale but is not paid to the state sales tax agency antil the following month. 1. Cash sales for November Year 1 were $64,000 plus sales tax of 7 percent: 2. Topeca Supply paid the November sales tax to the state agency on December 10 , Year 1 . 3. Cash hales for December Year 1 were $79.500 plus sales tax of 7 percent Required a. Record the effect of the given transactions in a honizontal statements model. Note: In the Cash Flow column, use the initiels "OA" for operesing activities. "FA" for finencing activities, and "IA" for investing activity. Enter any decreases to account bolances and cash outflows with a minus sign. Not all cells require input. Required information The followng wiformation applies to the questions displayed beiown The following selected transactions apply to Topeca Supply for November and December Year 1 . Noyember was the first month of operations. Sales tax is collected at the time of sale but is not paid to the state sales tax agency until the followeng month. 1. Cash sales for November Year 1 were $64,000 plus sales tac of 7 percent. 2. Topeca Supply paid the November sales tax to the siate agency on December 10, Year 1 3. Cash sales for December Year 1 were $79,500 plus sales tax of 7 percent. b. What was the total amount of sales tax paid in Ypar 1 ? Required information [The following information applies to the questions dipplayed betow/ The following selected transactions apply to Topeca Supply for November and December Year 1. November was the fist month of operations. Sales tax is colected at the time of sale but is not paid to the state sales tax agency until the following month. 1. Cash sales for November Year 1 were $64,000 plus sales tax of 7 percent. 2. Topeca Supply paid the Noveinber sales tax to the state agency on December 10, Year 1 . 3. Cash fales for December Year 1 were $79,500 plus sales tax of 7 percent. c. What was the total amount of sales tox collected in Yeat 1? Required information The following information applies to the questions dirplayed befow] The following selected transactions apply to Topeca Supply for November and December Year 1. November was the first month of operations. Sales tax is collected at the time of sole but is not pald to the state sales fax agency until the following month. 1. Cash sales for November Year i were $64,000 plus sales tax of 7 percent. 2. Topeca Supply paid the November sales tax to the state agency on December to, Year 1 3. Cash sales for December Year 1 were $79,500 plus sales tax of 7 percent. d. What is the amount of the sales tax liability as of December 31, Year P Required information [The following informabion applles to the questions displayed below] The following selected transactions apply to Topeca Supply for November and December Year 1 November Was the first month of operations. Sales tax is collected at the time of sale but is not paid to the state sales tax agency until the: following month. 1. Cash sales for November Year 1 were $64,000 plus sales tax of 7 percent. 2. Topeca Supply paid the November sales tax to the state agency on December 10. Year 1 . 3. Cach sales for December Year 1 were $79.500 plus sales tax of 7 percent. e. On which financial statement will the sales tax liability appear